The stock of WESTSHORE TERMINALS INVESTMENT CORP (TSE:WTE) gapped down by $0.09 today and has $23.39 target or 6.00% below today’s $24.88 share price. The 8 months technical chart setup indicates high risk for the $1.94B company. The gap down was reported on Nov, 4 by Barchart.com. If the $23.39 price target is reached, the company will be worth $116.40M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 180,040 shares traded hands or 40.31% up from the average. WESTSHORE TERMINALS INVESTMENT CORP (TSE:WTE) has risen 51.64% since March 31, 2016 and is uptrending. It has outperformed by 50.55% the S&P500.
WESTSHORE TERMINALS INVESTMENT CORP (TSE:WTE) Ratings Coverage
Out of 5 analysts covering Westshore Terminals Investment Corporation (TSE:WTE), 2 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 40% are positive. $33 is the highest target while $13 is the lowest. The $21.92 average target is -11.90% below today’s ($24.88) stock price. Westshore Terminals Investment Corporation has been the topic of 21 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, May 30 by BMO Capital Markets. The rating was maintained by Scotia Capital on Monday, September 21 with “Sector Perform”. The firm has “Reduce” rating by TD Securities given on Thursday, October 29. The firm has “Sector Perform” rating by Scotia Capital given on Monday, August 10. On Thursday, September 22 the stock rating was upgraded by TD Securities to “Buy”.
Another recent and important WESTSHORE TERMINALS INVESTMENT CORP (TSE:WTE) news was published by Forbes.com which published an article titled: “Oversold Conditions For Westshore Terminals Investment (WTE)” on October 29, 2015.
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